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Significance of GRIR clearing account
Topic : FI-GL Module : FI/CO Ticket No. : 1106 Status :
Please explain the significance of GRIR clearing account functionalilty in FI-MM integration.
By Phanindher A On 16/06/2017 At 08:58 AM
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GR/IR - Good Receipt/Invoice Receipt account. It is a clearing account and will come in MIGO while goods receipt/Invoice receipt from vendor. You will not pay your vendor immediately when you receive goods, so you will credit in a clearing account and the debit the same account while MIRO.
By SIDDHARTHA GOSWAMI On 09/08/2017 At 06:52 AM
GR/IR account is holding account between goods receipt and invoice verification. At the time of GR, the value of the material is posted to inventory GL account and offset entry is made to GR/IR clearing account and at the time of invoice verification, this GR/IR account is cleared and posting is made to vendor payable accounts.
By NARESH VATTIPALLI On 14/12/2017 At 07:43 AM